Tue. Jul 16th, 2024

Banks Not Collecting Interest??? #cibc #bank #interest #finance #canada

Banks Not Collecting Interest??? #cibc #bank #interest #finance #canada

In the latest quarter, CIBC announced about $52 Billion in mortgages had mortgage payments that were not covering the interest due during the payment period. Would this technically not be in arrears? Federal government’s recent budget announcement gives banks tools and latitude to assist these type of borrowers. What do you think?

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